Mimir acquires Moelven Modus from Moelven

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STOCKHOLM, SWEDEN (8 October 2021)

Moelven Industrier AB today sold 100% of its shareholding in Moelven Modus to an affiliate of Mimir

The office and system walls business will in tandem with the transaction go back to its old name Eurowand.

“Mimir focuses on investing in environmentally friendly solutions, why we are excited about the opportunity to welcome Eurowand to the Mimir Group of companies. We have significant experience from investing into the wider construction and building material markets and will be working close together with the Eurowand employees in order to strengthen the operation and its offering to customer”, says Mimir Group operating partner Jeff Bork.

Moelven Modus AB delivers flexible and climate smart interior system walls to the professional real estate market, having Sales of SEK 270 million during 2020. The company employs c. 140 staff with production facility in Hulån (Sweden), and is operated in a decentralised manner with regional offices.

"We wish our Moelven Modus AB colleagues the best in their continued ambitious growth journey under new ownership. It is naturally with mixed emotions we see a part of the Moelven family leave for pastures new, but have the greatest confidence in that Mimir offers what is required to further develop and strengthen the new Eurowand business in the future", says Group CEO of Moelven Industrier ASA, Morten Kristiansen.

Contact persons:

Joakim Notö, Group Chairman & Managing Partner, Mimir. Tel: +46 (0)739 86 36 37, joakim.noto@mimirinvest.com

Morten Kristiansen, Konsernchef, Tel: +47 911 18 250, Morten.Kristiansen@moelven.com

About Moelven Industrier ASA

Moelven is a Scandinavian industrial group that produces building products and systems for the construction industry. Group sales is c. NOK 11 billion annually, with c. 3350 employees, 34 production companies and 42 manufacturing sites across Norway and Sweden.

About Mimir

Mimir is a global investment firm acquiring non-core business units of large corporations and private companies that need operationally oriented ownership. The Mimir group has operations in 20 countries across the world and 1,000 employees.